JSR Dynamics Limited
JSR Dynamics Limited
INE0JFD01014
Incorporation Date: 27-Dec-2018
Listing Status: DRHP Not Filed
About JSR Dynamics Limited
Overview of JSR Dynamics Limited
JSR Dynamics Limited
🏢 Company Overview
- Industry & Scope: Incorporated in December 2018, JSR Dynamics Limited is a private Indian defense-tech company specializing in research, design, and manufacturing of airborne and ground-launched precision-guided munitions (PGMs), standoff weapon systems, and missile kits.
- Location & Facilities: Headquartered in Nagpur, Maharashtra, the company operates dedicated composite, assembly, and testing facilities featuring 5-axis CNC machines, 9-meter composite curing ovens, laser welding, and Hardware-In-Loop (HIL) simulation labs.
⚙️ Business Model & Operational Verticals
| Vertical | Operational Scope & Revenue Model |
| Air-Launched Glide & Stand-off Weapons | Core R&D vertical designing indigenous long-range glide bombs (LRGB) and air-to-surface standoff precision strike weapons for fighter jets (such as Su-30MKI). |
| Guided Rocket & Mortar Kits | Modernization vertical providing tail-control systems, precision guidance kits, and aerodynamic upgrades for 210–260mm rockets and 120mm long-range mortars. |
| Loitering Munitions & Decoys | High-speed, jet-powered loitering systems (JPLM) and autonomous Miniature Ground Launch Decoys (MGLD) for suppression of enemy air defenses (SEAD). |
| Propulsion & Solid Boosters | In-house production of composite-propellant solid RATO (Rocket-Assisted Take-Off) booster motors and small jet propulsion integration. |
👥 Management & Board Structure
- Air Marshal Shirish Baban Deo (Retd): Founder & Managing Director (Former Vice Chief of the Air Staff of the Indian Air Force, driving indigenous PGM innovation).
- Distinguished Board Members: Board includes former defense administrators and domain veterans such as Sanjay Mitra (Former Defense Secretary of India), Air Marshal Pradeep Vasant Naik (Retd), and Lt. Gen. Dattatray Balajirao Shekatkar (Retd).
🚀 Recent Developments & Strategic Initiatives
- Atmanirbhar Bharat / Indigenous Integration: Developed key standoff weapons integrated onto frontline IAF platforms, winning innovation challenges like the Indian Navy Open Challenge for long-range precision strikes.
- Institutional & Venture Backing: Raised ~$19 million in private funding rounds backed by domestic institutional funds, brokers, and angel syndicates to scale production lines and expand flight testing programs.
- Export & Co-Development Potential: Targeting friendly foreign nations and Indian armed forces with low-cost, high-precision standoff weapons as alternatives to expensive Western or Russian glide bomb kits.
Insights of JSR Dynamics Limited
JSR Dynamics Private Limited – Strategic Insights & Corporate Overview
- Successful IAF Trials of Khagantak-243 (September 2026): In a landmark milestone on September 2, 2026, the Indian Air Force successfully drop-tested the Khagantak-243 Long Range Glide Bomb (LRGB) from a Su-30MKI fighter. The 300-kg class precision weapon validated its stand-off strike range of 144 to 180 km, confirming its ability to neutralize high-value targets while keeping aircraft safely outside enemy air defense zones.
- Strategic Collaboration with BEL: Nearly 90% of the Khagantak's subsystems are manufactured domestically through a joint effort. JSR Dynamics leads the design of the modular airframe, swivel wings, and AI seeker algorithms, while BEL integrates the GNSS-Inertial navigation and advanced electronics.
- Massive Import Substitution Pipeline: With the IAF heavily reliant on imported smart munitions (like the Hammer and Spice glide bombs), the indigenous Khagantak program—featuring variants scaling up to 1,350 kg (Khagantak-1260)—is projected to drop import reliance from 70% to under 20% by the end of the decade.
| Financial Line Item (in ₹ Cr.) | FY24 | FY25 | YoY Change (%) |
| Revenue from Operations | 0.00 | 0.00 | N/A |
| Total Income (Grants, FD Interest) | 1.08 | 3.65 | +237.88% |
| EBITDA | 9.91 | 10.78 | +8.80% |
| Depreciation & Amortisation | 4.94 | 4.29 | -13.15% |
| Finance Costs | 4.89 | 8.47 | +73.33% |
| Profit / (Loss) Before Tax (PBT) | 0.08 | (1.98) | -2,512.77% |
| Profit / (Loss) After Tax (PAT) | 0.06 | (2.18) | -3,509.14% |
- Baseline Share Pricing: The valuation report pegged the fair value of both Equity Shares and CCPS at ₹6,514 per share (comprising a ₹10 Face Value and a ₹6,504 Premium).
- Pre-Money Share Base: Prior to the early-2025 CCPS allotments, the outstanding share base stood at 60,00,400 shares (consisting of 20,00,400 Equity Shares and 40,00,000 Redeemable Preference Shares).
- Latest Capital Raise (Jan-Feb 2025): The company raised a combined ~₹167 Crore by issuing a total of 2,56,735 CCPS across multiple tranches (1,11,909 in January; 1,40,075 on Feb 8; and 4,751 on Feb 17).
- Latest Outstanding Share Base: Adding the newly issued CCPS to the pre-raise base yields a total post-money outstanding capital structure of 62,57,135 shares.
- Pre-Money Valuation (at ₹6,514 / share): ~₹3,908.66 Cr
- Post-Money Valuation (at ₹6,514 / share): ~₹4,075.89 Cr
- Current MCap Scenario (at ₹9,000 / share): ~₹5,631.42 Cr
Financial Charts of JSR Dynamics Limited
Balance Sheet of JSR Dynamics Limited
Profit and Loss of JSR Dynamics Limited
Ancillary of JSR Dynamics Limited
Ratio Analysis
Peers
Industry Benchmarking
Segment Revenue
Subsidaries
Security Allotment
Corporate Governance
Team Management Details
FAQs of JSR Dynamics Limited
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How to buy JSR Dynamics Limited?
Below are three ways through which you can purchase JSR Dynamics Limited:
- We at Altius Investech have many actively traded scripts and are market makers of unlisted shares. To check out all the unlisted shares traded. (Click on link). To submit a request to buy JSR Dynamics Limited, please click on the trade button at the top of this page
- Additionally, you can download our app from your play store or app store, register on our application, and engage in active trading there.
Download the Altius App here https://onelink.to/hf4m72 - You can also reach out to us at : +91 8240614850 / +91 8240861716
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How to sell JSR Dynamics Limited?
Below are three ways through which you can sell JSR Dynamics Limited:
- We at Altius Investech have many actively traded scripts and are market makers of unlisted shares. To check out all the unlisted shares traded. (Click on link). To submit a request to sell JSR Dynamics Limited, please click on the trade button at the top of this page
- Additionally, you can download our app from your play store or app store, register on our application, and engage in active trading there.
Download the Altius App here https://onelink.to/hf4m72 - You can also reach out to us at : +91 8240614850 / +91 8240861716
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What is the price of JSR Dynamics Limited?
We provide a two way quote on all the shares we deal in. Your buy price for JSR Dynamics Limited is ₹11999 and your sell price for JSR Dynamics Limited is ₹10500. The price is based on our estimates and market conditions.
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What is the lock-in period of JSR Dynamics Limited?
The lock-in period for JSR Dynamics Limited varies depending on the category of investors:
- For retail Investors, HNIs, or Body Corporates, the lock-in period is 6 months from the date of the listing of JSR Dynamics Limited
- For Venture Capital Funds or Foreign Venture Capital Investors, there is a lock-in period of 6 months from the date of acquisition of JSR Dynamics Limited
- For AIF-II (Alternative Investment Funds - Category II), there is no lock-in period
August 2021 saw the introduction of this regulation by SEBI. The purpose of the regulation change, which lowered the lock-in period from a year to six months, was to incentivize additional investments in firms getting ready for initial public offerings, or IPOs. Since its introduction, a number of Portfolio Management Services (PMS) have advised their clients to purchase Pre-IPO shares in order to take advantage of the advantages associated with early-stage investments. This reduction in the lock-in period is considered as a significant step forward.
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How is the JSR Dynamics Limited price calculated?
Fundamental & Comparative valuation models and the forces of demand and supply in the market for unlisted shares dictate the price. These prices are based on our estimates and transaction history of JSR Dynamics Limited. The price is also determined from the most recent funding round for JSR Dynamics Limited. This provides us with a benchmark valuation, offering a clear indication of the company's current market value as perceived by investors and industry experts.
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What are the lot sizes of JSR Dynamics Limited?
We can generally arrange lot sizes starting with an investment of INR 20,000. To confirm the lot sizes of JSR Dynamics Limited with us kindly click here.
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What are the financials of JSR Dynamics Limited?
The financials of JSR Dynamics Limited which includes the P/L of JSR Dynamics Limited and the Balance Sheet of JSR Dynamics Limited is in the financials section (Click on link).
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Where can I find the annual report of JSR Dynamics Limited?
The annual report of JSR Dynamics Limited is available in the annual report section (Click on link).
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Is buying JSR Dynamics Limited legal in India?
Yes, buying and selling unlisted shares in India is indeed 100% legal. This activity is regulated and governed under the guidelines provided by the Securities and Exchange Board of India (SEBI). Investors and traders must adhere to these regulations and guidelines to ensure compliance with legal and financial standards. It's important for participants in the unlisted share market to be aware of and understand these regulations to engage in transactions legally and securely.
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Short-term Capital Gain taxes to be paid on JSR Dynamics Limited?
When you sell unlisted shares within a period of two years from the date of acquisition, any profit earned from the sale is classified as Short-term Capital Gain (STCG). This gain is then added to your total income for that financial year. The tax on this short-term capital gain is calculated based on your applicable individual income tax slab rates. Therefore, the rate at which you will pay tax on the STCG from unlisted shares depends on your total income, including this gain, and the tax slab it falls under as per the prevailing income tax laws in India. It's important for investors to consider these tax implications when engaging in transactions involving unlisted shares.
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Long-term Capital Gain taxes to be paid on JSR Dynamics Limited and how are They Taxed?
Long-term Capital Gains (LTCG) on unlisted shares in India refer to the profits earned from the sale of unlisted shares that have been held for more than two years. The key aspects of LTCG on unlisted shares include:
- Tax Rate: LTCG on unlisted shares is taxed at a rate of 20%.
- Indexation Benefit: This is a significant advantage for investors. Indexation allows for adjusting the purchase price of the shares for inflation, which can reduce the taxable gain.
- Importance for Investors: Understanding LTCG is crucial, especially for High Net-worth Individuals (HNIs) and retail investors, as it impacts their investment strategy and tax planning. Knowing these details helps in making informed investment decisions.
- Calculation: LTCG is calculated by subtracting the indexed cost of acquisition (the purchase price adjusted for inflation) from the sale price of the shares. The profit thus calculated is subject to a 20% tax.
- Applicability: LTCG tax is applicable to profits from the sale of unlisted shares held for more than two years.
- Relevance: This tax is particularly relevant to investors in the unlisted share market, including those considering selling their holdings after a period of more than two years.
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Applicability of Taxes on JSR Dynamics Limited once it is listed?
When shares initially bought in the unlisted market become listed, the taxation rules change significantly if these shares are sold through a stock exchange. Here's what investors need to know:
Transition to Listed Market Tax Rates: Once unlisted shares are listed on the stock exchange and subsequently sold, the tax rates applicable to listed securities come into effect. This shift means that the favourable tax treatments for listed shares, as per the prevailing tax laws, will apply.
Taxation Based on Holding Period: The crucial factor in determining the type of capital gains tax (Long-term or Short-term) is the holding period of the shares. Importantly, this period is calculated from the original purchase date when the shares were unlisted.
Long-term vs. Short-term Capital Gains: If the shares are sold after being held for more than one year from the date of purchase (including the period when they were unlisted), they are subject to Long-term Capital Gains (LTCG) tax.
Conversely, if sold within one-year, Short-term Capital Gains (STCG) tax rates apply.
Significance for Investors: This information is vital for investors in the unlisted market, as it impacts their tax planning and decision-making process. Understanding these nuances ensures that investors can strategically plan the sale of their shares post-listing to optimize tax implications.
Advice for Investors: It's advisable for investors to keep a record of their purchase dates and monitor the listing dates closely. Additionally, staying updated with the latest tax regulations or consulting with a financial advisor is recommended for accurate tax calculations and compliance. -
How does Altius Investech source JSR Dynamics Limited?
At Altius Investech, our approach to sourcing JSR Dynamics Limited unlisted shares involves a strategic and direct method. Primarily, we acquire these shares from the below key groups:
Employees of the Company: Employee stock option plans (ESOPs) or other compensation packages frequently include shares for firm employees. For a various reasons, such as including portfolio diversification or financial considerations, some of these employees may eventually choose to sell their shares. We engage with these employees, providing them a platform to sell their shares.
Initial Investors: These are the angel or early-stage investors who provided capital to the business in its early stages. These original investors may look to sell all or part of their ownership position in the company as it develops and flourishes. This might be done for various reasons such as in order to maximise their investment, reallocate resources, or make other calculated financial decisions.
Funding rounds and VC funds: Altius Investech sources the shares from private placement rounds in which private companies seek to obtain capital from the market. Through our platform, venture capital funds can liquidate their shares and we receive the inventory from them when they decide to sell a portion of their ownership through block trades.
By establishing connections with these groups, Altius Investech guarantees our clients a steady and dependable supply of JSR Dynamics Limited unlisted shares. This process not only makes it easier for employees and initial investors in liquidating their assets, but it also gives our clients access to shares that aren't often found on the open market. Our platform effectively facilitates a win-win situation for both buyers and sellers. -
How to trust Altius Investech before buying JSR Dynamics Limited from its platform?
Altius Investech stands at being India's fastest growing and leading marketplace for buying and selling unlisted shares. We believe in enabling access to alternative sources of investments at lower entry barriers to private equity investments.
With more than 25 years of experience, Altius Investech has carved a niche in the financial market by serving more than 8000 clients. The incredible journey is further highlighted by the vast number of transactions that Altius Investech has facilitated transactions that have already exceeded 300 crores.
For investors Altius Investech curates investment opportunities in companies at reasonable valuations which are on the verge of an IPO leading to massive value unlocking. Investments are backed by thorough research and sound investment thesis, with a time bound exit plan.
For ESOP Shareholder and existing Investors, we assist them to liquidate their shares even if they are not publicly traded by creating a platform where we find the right buyers and sellers for the best prices.
Altius Investech have been featured in top media news outlets like Economic Times, Financial Express, Money control. Check out about us on these - leading publications (Click on link) Our journey over these years has not just been about numbers; it's been about building trust and reliability.
We at Altius Investech are dedicated to upholding the greatest levels of ethics and transparency, making sure that your investment experience is not only profitable but also safe and reliable.
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